Hanlong still wanted a board member after their deal collapsed as they were the largest shareholder with 20%. Sundance took the view that a Hanlong nominee had little to offer an ASX listed company. Probably the right decision as Hanlong was on the nose in China and Australia.
Mr Ding could do the deal in China because he had the connections. And China will not finance non Chinese companies. Hence Sundance will become increasingly owned by Chinese shareholders. Good for SDL shareholders?? I suspect anyone with an entry price after 2016 will do well.
SDL Price at posting:
0.6¢ Sentiment: None Disclosure: Not Held
